by Nicola San Lorenzo
Economics plays an essential role in our daily lives, from public policy, education and healthcare to banking and finance. A degree in Economics provides individuals with the ability to understand figures, analyse data, solve problems and implement strategies that are based on current economic news.
At Middlesex, our teaching, resources and support systems are designed to prepare our students with the right skills and connections to excel within the workplace. Here are five career options suitable for an Economics graduate.
Data Analysts are valued across all sectors such as finance, government, consulting, education and much more. The role of a Data Analyst is to understand large amounts of data and to be able to translate their findings in an easily-digestible format.
With that said, Data Analysts have a fundamental role in providing valuable insights, that will contribute to the decision-making of any company. As an Economics graduate, you will have high numerical and analytical skills. This will be beneficial to this role when analysing the meaning behind the numbers and figures in data.
At Middlesex, we ensure that our teaching assessments through group projects, hone and develop students communication and presentation skills. This will be valuable as a Data Analyst because the role requires great communication and numerical knowledge.
An Economist applies expert knowledge to issues within various fields, sharing vital insights into their financial, political and social impact. In this profession, you would be expected to research and gather data using a variety of software programmes for microeconomic analysis of a specific industry. You’d be responsible for producing forecasts of the current economy and offering insight-driven solutions.
As Professor Vecchi stated, to enter organisations such as the Office for National Statistics, National Institute of Economic and Social Research (NIESR), and the Bank of England and other Government departments, ‘’you need a very good knowledge of economic theory both microeconomics and macroeconomics, experimental methods, and analytical techniques such as Maths, Statistics and Econometrics.’’ For our students interested in working with international organisations, Professor Vecchi also points out two of our modules - Development Economics and Economic Analysis and Policy – which will help you prepare for global businesses.
Our BSc Financial Economics degree prepares students for a career in finance, and in particular set you up to become a Financial Risk Analyst.
A career as a Financial Risk Analyst will require the ability to identify, assess and eliminate possible risks that can have an impact on the financial success of a business. In this role, you will need an understanding of economic principles and the finance market to develop financial strategies. You would be expected to have the analytical skills to apply complex theories to locate value at risk measurements.
During your Financial Economics degree, you will cover modules such as Financial Econometrics, that are taught by a professional from the financial sector. Professor Vecchi highlights that ‘’we are the only University in London to provide this type of module, where industry experts get involved in the teaching and endow students with specific training.’’ In light of this, you will be well equipped with expert knowledge and critical thinking to carry out the duties of a Financial Risk Analyst.
The role of an Actuary is to evaluate and quantify financial risk. They are also responsible for communicating their findings and financial advice to non-specialists. Our BSc Business Economics degree prepares our graduates with the knowledge and understanding of financial concepts, probabilities and statistical theory. All of which will be necessary to succeed as an Actuary.
With a Business Economics degree, you will acquire a strong understanding of how markets fluctuate, insights into how business decisions are made, as well as an in-depth understanding of financial topics. This knowledge will be beneficial for an Actuary when assessing risk and uncertainty.
A Business Reporter is responsible for researching, writing and broadcasting stories related to industry trends, business leaders, economic developments and financial markets. It is key for a Business Reporter to have excellent communication skills to break down complex economic topics into terms that are understandable to the general public.
Likewise, a Business Reporter must possess knowledge of economic trends, world financial markets and current economic news. As an Economics student, there will be plenty of opportunities during university to develop cognitive and non-cognitive skills that will be crucial in a working environment.
Professor Vecchi indicated that you can develop your cognitive skills by studying hard, using additional resources such as libraries, our Bloomberg suite, and the computer labs to learn new softwares. To improve non-cognitive skills, Professor Vecchi says that time management with your coursework and participating in group work and presentations is crucial.
These are significant skills for any career choice, however, to be specific to a career as a Business Reporter, it is fundamental to have the confidence to interact with a range of audiences, a research background, and the ability to manage your time to meet tight deadlines.
And that’s our round up of career options for Economics grads! Want to know more about how our courses prepare you for a wide range of careers? Check out more information on the support available to you via MDX Works Employment Hub.
